Basse v. Gallegger
Wisconsin Supreme Court
APPEAL EROM MILWAUKEE CIRCUIT COURT. All the material facts in this case are mentioned in the opinion of the court. The judgment in this case was erroneous, because— 1. The complaint shows that the principal sum secured by the mortgage, was not due.
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APPEAL EROM MILWAUKEE CIRCUIT COURT. All the material facts in this case are mentioned in the opinion of the court. The judgment in this case was erroneous, because— 1. The complaint shows that the principal sum secured by the mortgage, was not due. It could not become due until the time limited in the mortgage, or until there had been a failure on the part of the mortgagors to keep their covenants. and the mortgagee had exercised his “ option,” to declare it due, for that cause. 2. Because the complaint shows clearly that the mortgagee had not exercised or declared such option ; on the…
1Opinion of the Court
By the Court,
Cole, J.
This was an action commenced to foreclose a mortgage. It appears from the record, that on the 13th day of September, 1855, Gallegger and wife made their mortgage to secure the payment of a bond bearing date on that day, in the penal sum of six thousand dollars conditioned for the payment of three thousand dollars to Basse, at the end of four years from the date thereof, with interest, at the rate of 12 per cent, per annum, such interest to be paid semi-annually; and also conditioned to keep the building standing on the mortgaged premises insured, &c., &c. There was a…
2Cases cited3 opinions
- Noyes v. ClarkNew York Court of Chancery · 1838
- Hall v. DelaplaineWisconsin Supreme Court · 1856
- People ex rel. Dey v. Superior CourtNew York Supreme Court · 1838
3Cited by21 opinions
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- Swearingen v. LahnerSupreme Court of Iowa · 1894
- Julien v. Model Building, Loan & Investment Ass'nWisconsin Supreme Court · 1902
- Pier v. LeeSouth Dakota Supreme Court · 1901
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